Light Therapy Market Size, Share, Competitive Landscape and Trend Analysis Report by Product, by Application, by Light Type : Global Opportunity Analysis and Industry Forecast, 2021-2031

Light Therapy Market Research, 2031

The global light therapy market was valued at $521.1 million in 2021, and is projected to reach $802.7 million by 2031, growing at a CAGR of 4.4% from 2022 to 2031. Light therapy is also known as heliotherapy or phototherapy, is a treatment involving exposure to an artificial light source or form of equivalent light. This therapy is primarily used for the treatment of major depressive disorders, seasonal affective disorder (SAD), and various skin conditions. Light therapy treatment shows significant results in the treatment of skin disorders such as acne vulgaris, psoriasis, vitiligo, and eczema. There are different types of light therapies depending on type of light such as blue light therapy, red light therapy, and white light therapy.

Growth of global light therapy market is majorly driven by increase in skin disorders, rise in patients suffering from depression, increase in prevalence of seasonal affective depression, and mood conditions. Moreover, increased urge to look beautiful cause rise in adoption of light therapies in the female population. Thus, this factor is anticipated to fuel the growth of market. For instance, according to the Journal of National Psoriasis Foundation, in 2021, it was observed that around 3% of the U.S. adult population is diagnosed with psoriasis. In addition, narrow band Ultraviolet B therapy most commonly used in psoriasis treatment, which increases the demand for light therapy.  Furthermore, use of handheld laser devices for skin treatments by dermatologists also boosts the laser therapy market. Laser has been reported to be effective in the treatment of acne vulgaris, thus further boosting the laser therapy market
Moreover, light therapy market growth is being fueled by factors such as greater concern for physical appearance, increase in sedentary lifestyle, increased seasonal depression conditions during the winters, and rise in disposable income. Moreover, increase in new product offering by key players such as light visor, and handheld devices propels the light therapy market opportunity.
On the other hand, side effects associated with light therapies such as skin itching, insomnia, and headache is the factor expected to hamper the growth of market. For instance, prolonged exposure to blue light can cause skin irritability, sleep disturbance and eye strain.

Impact of COVID-19 on the Market
Nearly all industries have been impacted by the COVID-19 pandemic. As coronavirus crises led to lock-down and strictly follow the social distancing rules, has resulted in a significant increase in demand for the light therapy across several sectors, particularly the healthcare and medical sector. The main factor responsible for the increasing demand of light therapies is increase in cases of depression since the lock-down period. For instance, according to World Health Organization (WHO) in 2021, confirmed that global prevalence of depression increased by 25% across the globe. As a result, the COVID-19 outbreak is expected to accelerate the global light therapy market growth, which will have a positive effect on the market's value in 2022 and beyond.

Market Segmentation

The global light therapy market is segmented on basis of product, application, light type, & region. On the basis of product, it is segmented into light box, floor & desk lamp, light visor, handheld devices for skin treatment, and others. By application, the market is bifurcated into skin conditions (Psoriasis, vitiligo, Eczema, and Others), mood & sleep conditions (Major depressive disorders and sleeping disorders and Seasonal affective disorders), and others. On the basis of light type, the market is segmented into blue light, red light, white light, and others. 
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Product Segment Review
By product, floor and desk lamps segment was the highest revenue contributor to the light therapy market size in 2021, and is expected to continue this trend throughout the forecast period, owing to increase in demand for floor and desk lamp as this products are convenient to use and affordable.
On the other hand, handheld devices for skin treatments is expected to witness a considerable light therapy industry growth during the forecast period, owing to increase in product approval for various handheld laser devices.

By Application Segment Review
The skin conditions segment was the highest revenue contributor to the light therapy market size in 2021, owing to high prevalence of skin disorders such as psoriasis, acne vulgaris, and eczema and increased use of light therapies by dermatologist to treat skin conditions.

By Light Type Segment Review
The blue light segment was the highest revenue contributor to the market in 2021, and is expected to remain dominant during the forecast period, owing to increased use of blue light in treatment of psoriasis and seasonal affective disorder.
However, the red light segment is expected to witness considerable growth during the light therapy market forecast period.

Region Type Segment Review
The North America region was the highest revenue contributor to the light therapy market share in 2021, due to increase in prevalence of skin diseases and seasonal depression conditions. On the other hand, Europe was the second-largest contributor in the market in 2021, owing to increase in demand for blue to treat depression and other skin disorders.

Some of the major companies that operate in the global light therapy industry include, Beurer GmbH, Biophostas Inc. (Celluma), Johnson and Johnson, Koninklijke Philips, Lucimed S.A., Lumie, Nature Bright, Northern Light Technologies, Photomedex Inc, TheraLight Llc, Verilux Inc., and Zepter International.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the light therapy market analysis from 2021 to 2031 to identify the prevailing light therapy market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the light therapy market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global light therapy market trends, key players, market segments, application areas, and market growth strategies.

  Light Therapy Market Report Highlights

Aspects	Details
Market Size By 2031	USD 802.7 million
Growth Rate	CAGR of 4.4%
Forecast period	2021 - 2031
Report Pages	303
By Product	Light Box Floor and Desk Lamps Light Visor Handheld Devices for Skin Treatment (HDST) Others
By Application	Skin conditions Type Psoriasis Vitiligo Eczema Others Mood and sleep conditions Type Major Depressive Disorders and Sleeping Disorders Seasonal Aaffective Disorders (SAD) Others
By Light Type	Blue light Red light White light Others
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest Of Europe) Asia-Pacific  (South Korea, Rest Of Asia-Pacific, Japan, China, Australia, India) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest Of LAMEA)
Key Market Players	LUCIMED S.A., N.VVERILUX, NATURE BRIGHT, PHOTOMEDEX.INC, Koninklijke Philips N.V., BIOPHOSTAS INC. (CELLUMA), LUMIE, NORTHERN LIGHT TECHNOLOGIES, ZEPTER INTERNATIONAL, TheraLight, LLC, BEURER GMBH, Verilux, Inc., JOHNSON AND JONSON
Other Players	BioPhotas.

Analyst Review

This section provides various opinions of top-level CXOs in the global light therapy market. According to insights of CXOs, the global light therapy market is expected to exhibit high growth potential attributable to factors such as increase in prevalence of acne and other skin related disorders, rise in R&D activities, and increase in awareness about personal care. Furthermore, the light therapy market has gained interest of pharmaceutical manufacturing companies, owing to surge in demand for light therapies treatments.
The CXOs further added that North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of skin disorders, increase in investment from government and other organizations for enhancing healthcare, and strong presence of key players. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in research and development activities for light therapies and unmet medical demands during the forecast period.
 

Author Name(s) : Shraddha Mali | Roshan Deshmukh

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